Mr. Adam joined Mobil Oil Company in 1946 at their largest refinery in Texas as a Process Engineer, after serving four years in chemical warfare service, largely in charge of units producing munitions at Pine Bluff Arsenal in Arkansas. He advanced to the position of Vice President of Mobil, serving as head of North America refining and pipelines, and then President of Mobil Chemical Company. In 1972, Adam joined NL Industries, an internationally diversified corporation with businesses in oil-field services, chemicals, metals and metal fabrication. He served as its Chief Executive and Chairman of the Board, retiring in 1984.

Adam was Chairman of the Business Roundtable Energy task force where he was active in government activities. He was also a member of the Business Council and the Foreign Policy Association. Adam has served as a member of the Board of Directors of many major companies.

The Ray C. Adam Chair in Chemical Engineering was established in his honor by NL Industries in 1983, on the occasion of his retirement.